As Waters noted in a past examination of levereaged loans and CLO technology, these specialized debt markets lag significantly behind their peers in terms of operational efficiency.
A combination of boom-and-bust cyclicality, legal complexity, and general lack of impetus in such a niche market means that trade settlement can take, on average, at least two weeks. Bigger, more bespoke deals will range into months — plural.
The industry is once again hitting the boom side of the cycle, though. Leve
Bryan Harkins joins to discuss how the CBOE-Bats integration is going and plans for the exchange operator going forward. Anthony and James talk about the SEC hack and Esma's potential new powers.Subscribe to Weekly Wrap emails